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Old 09-20-2007, 11:17 PM
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Re: Currency Analysis

James,
Here's my take on the 6E/EC:





As you can see, we have a candle cluster at #1, right at a s/r level. There's 3 or so hammers there to take a long. If we go long on #1, we have to be conscious of the overhead resistance, which we then see breaks through.

#2 is a more conservative trade where you wait for that level to break and then enter on the hammer. As you see later, the new support (old resistance) level was tested 3 times and then bam - the upmove you want when long.

So, in hindsight, should be long at least at #2 and possibly #1 as well. Good trades there and nice $$$$.
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